Raj Kundra Secures Bail in Bitcoin Scam Case: What You Need to Know

Raj Kundra has been granted bail in a significant money laundering case associated with an alleged Bitcoin scam. The special court's decision comes after Kundra's cooperation with the Enforcement Directorate since 2021. The case revolves around accusations that Kundra received 285 Bitcoins for a failed mining operation in Ukraine. Despite his claims of being a mere mediator, the evidence suggests otherwise. This article delves into the details of the case, including the implications of the charge sheet and Kundra's defense. Read on to uncover the latest developments in this high-profile legal battle.

By Narendra Chaudhary Feb 20, 2026, 17:32 IST

Raj Kundra's Bail Granted in Money Laundering Case

In Mumbai, a special court has granted bail to businessman Raj Kundra following his appearance in a case concerning money laundering tied to an alleged Bitcoin scam.

The special judge, R B Rote, had previously issued a summons to Kundra in January after reviewing a charge sheet submitted by the Enforcement Directorate (ED).

Upon appearing in court, Kundra submitted a bail application, which was subsequently approved.

His attorney, Prashant Patil, argued that Kundra has been fully cooperative with the ED's investigation since 2021, and all relevant documents were already with the agency, making his continued custody unnecessary.

The court noted that the charge sheet indicated that both Kundra and Dubai-based businessman Rajesh Satija were implicated in activities that could lead to penalties under the Prevention of Money Laundering Act (PMLA).

The ED has accused Kundra of receiving 285 Bitcoins from Amit Bhardwaj, the alleged mastermind behind the Gain Bitcoin Ponzi scheme, for the purpose of establishing a Bitcoin mining operation in Ukraine.

However, since the deal fell through, Kundra reportedly still holds the 285 Bitcoins, which are currently valued at over ₹150 crores.

According to the charge sheet, Kundra claimed to have merely acted as a mediator but failed to provide any substantial documentation to support this assertion.

An agreement known as the 'Term Sheet' was signed between Kundra and Bhardwaj's father, Mahendra Bhardwaj, which undermines Kundra's claim of being just a mediator.

The ED pointed out that Kundra's precise recollection of the Bitcoin amounts received in five separate transactions seven years later suggests he was indeed the beneficial owner, not just a mediator.

Despite having numerous chances since 2018, Kundra has not disclosed the wallet addresses for the 285 Bitcoins, attributing the lack of information to damage to his iPhone X, which the charge sheet describes as an attempt to destroy evidence.